🔴 OBM.AX is trading 4.1% down today on profit-taking after expansion plan rally

OBM.AX is trading 4.1% down at A$1.35 as investors lock in gains following a sharp rally triggered by the approval of its A$375 million expansion project.

• The stock pulled back from an intraday high of A$1.41 (up 6%) after the company greenlit the DRIVE to 300 plan.
• The expansion includes a new 3.0 Mtpa processing plant at the Davyhurst hub, aimed at significantly scaling production.
• Market sentiment remains supported by the project's long-term growth potential despite the immediate technical retracement.